My journey into MMT

A Problem of Scale

I hold a strong belief, and as such, I should present strong evidence. Here it is.

  • Total currency in circulation: $2 Trillion
  • Total federal debt held by the public: $21 Trillion

The Economy without Cash

Formally, I am more familiar with modeling a unit cube for fluid dynamics of heat transfer than money flows. I accept that fiat currency is “pretend”, because more can be created trivially in a computer. As such, I do appreciate other ways of looking at the same problem which are not so cash-centric.

Demand for yellow dollars

I instantly resonate with this claim — Treasuries are another form of cash, it’s just cash for rich people. It’s better cash than ordinary cash.

Agreement Points

While my disagreement still exists, I haven’t finished this book yet so I am genuinely excited about the unanticipated ways in which it might change my mind.



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